Question

what is the credit system and banking

Answer 1

Bank credit is an agreement between banks and borrowers where banks trust a borrower to repay funds plus interest for either a loan, credit card or line of credit at a later date. It is money banks lend or have already lent to customers. Bank credit is the total borrowing capacity banks provide to borrowers.

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Answer 2

Bank credit is an agreement betweenbanks and borrowers where bankstrust a borrower to repay funds plus interest for either a loan, credit card or line of credit at a later date. It is moneybanks lend or have already lent to customers. Bank credit is the total borrowing capacity banks provide to borrowers.